Revolut vs WorldRemit: Which one is better? (2024 review)

If you’re sending money overseas, or looking for currency exchange with the best possible exchange rates, you may be considering using a digital service like Revolut¹ or WorldRemit². But which is better?

This guide covers all you need to know to decide which provider will suit your needs best. We’ll also introduce another alternative - the Wise Account and card, which lets you hold 50+ currencies, and spend in 170+ countries with the mid-market exchange rate and low, transparent fees¹⁰.

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What is Revolut?

Revolut describes itself as a financial super app, with account and card services covering 25+ currencies, plus a linked Revolut card for international spending in 150+ currencies.

You can open a Revolut account for free, or choose a plan which has a monthly fee if you need extra features. Options include foreign exchange, money transfers, insurance, and tools for investing, budgeting and saving.

What is WorldRemit?

WorldRemit is a specialist in international payments, which offers transfers set up online and in the WorldRemit app, and paid out for cash collection, to bank and mobile money accounts, or sent as airtime top-ups.

You can send money to over 130 countries with WorldRemit, although the exact services available - and the fees you’ll pay - do vary depending on the destination country.

Pros & Cons

	Revolut	WorldRemit
Pros	Free basic plans - or upgrade to a higher tier for more features Linked card for spending, plus a broad range of money management tools Currency exchange with the mid-market rate to plan limits	Send money to 130+ countries Great choice of pay out options, including cash collections and mobile wallet deposits Some transfers can be received instantly
Cons	16.99 USD/month for the full Metal plan³ Transaction and fair usage fees can apply Revolut accounts are not globally available	You can’t hold a WorldRemit balance No linked debit card available Fees apply, and exchange rates may include a markup⁹

Foreign exchange rates and fees

Revolut offers accounts you can use to hold a balance, while WorldRemit is more focused on international payments. Both providers appeal to people who need to convert currencies and send money overseas - which means the exchange rates which apply are important.

Here’s a loot at the Revolut vs WorldRemit fees and exchange rate information you need to know about:

Feature or service	Revolut³	WorldRemit⁹
Open account	Free	Free
Monthly fee	Free standard accounts, up to 16.99 USD/month for a Metal plan	Free
ATM withdrawals	Free in network ATM withdrawals at 55,000 locations International and out of network ATM withdrawals: 1,200 USD/month fee free for a standard plan 2% fee after that⁴	Not available
Exchange rate	Currency exchange uses the mid-market rate to 1,000 USD/month for Standard plan holders Premium and Metal customers can exchange without limits, using the mid-market rate Fair use, out of hours and exotic currency fees may apply⁴	Exchange rates may contain a small markup
Payments	Send payments to other Revolut accounts for free Send up to 10 international payments/month to a bank account fee free	Send payments to bank accounts, mobile wallets, for cash collection and as airtime top-ups Fees vary based on the service you need and the currencies involved

Get a Wise Account today for free - and send money overseas with low fees

If you’re looking for a better way to send money overseas, spend and withdraw in foreign currencies, and get the mid-market exchange rate with no markup, it’s worth also checking out the Wise Account and card to see if you can save.

Open a Wise Account for free, with no monthly fee and no minimum balance¹⁰. You can top up your account in USD or the currency of your choice, with local bank details in USD, EUR, GBP and more to get paid from 30+ countries. Convert your funds to any of the supported 50+ currencies for holding, send payments to 80+ countries, and get a linked Wise card to spend and withdraw in 170+ countries. All currency exchange uses the mid-market exchange rate, which could drives down your costs versus a bank.

Not sure if Wise is right for you? There’s also a Wise vs Revolut head-to-head comparison here if you want to learn more.

See how much you can save with Wise:

Features

As we’ve mentioned, Revolut and WorldRemit each have a slightly different focus. Where they overlap is in international payment services and currency conversion. Here’s a quick overview of how some of the features available from each provider match up:

Feature	Revolut	WorldRemit
Account to hold a local or foreign currency balance	Available	Not available
Transfers	To bank accounts and other Revolut users, in 25+ currencies	To 130+ countries, to bank accounts, for cash collection, to mobile money accounts and as airtime top up
Currency exchange	Fee-free to plan limits Fair use, out of hours and exotic currency fees may apply	Currency exchange may include a markup on the mid-market rate⁹
Linked card	Available	Not available
Features for budgeting, saving, investments and stock trading	Available	Not available

Support & Availability

You can get a Revolut account if you’re based in the European Economic Area (EEA), Australia, Singapore, Switzerland, Japan, the United Kingdom or the United States⁵. Accounts hold 25+ currencies, and the Revolut card can be used around the world.

If you have a Revolut account, you’ll be able to open a live chat within the Revolut app to get help with any questions you might have. There’s also a dedicated phone number in case you have to block your Revolut card and can’t do so in your app - call the team on +18447443512⁶.

If you’re in the US, you can use WorldRemit to send payments to 130+ countries⁷.

If you have a WorldRemit transfer in progress and need to talk to someone, you can call +1 855 383 7579 for service in the US⁸. There are also dedicated phone numbers for many other regions and countries, which are available on the WorldRemit contact page.

Trustworthiness & Safety

Both Revolut and WorldRemit are safe providers to choose as long as you follow the same basic safety precautions you would with any financial service provider.

Revolut is overseen by financial regulators around the world wherever it operates, and uses a broad range of automatic and manual approaches to keep customers and their accounts safe. Read more about how Revolut keeps customers safe, here.

WorldRemit is also regulated in the US and around the world. You can find details of the licenses held for each US state on the WorldRemit website.

Bottom line: Which one is better?

Whether Revolut vs WorldRemit is better for you depends on the type of transactions you need to make.

Revolut stands out for its account services, which include multi-currency holding options, and a linked card. You can also convert currencies with the mid-market rate to your plan limits, and send a fixed number of international payments every month with no fee. That makes it a good all-rounder if you’re looking for a broad suite of services with relatively low fees.

WorldRemit might be right for you if you need to send a payment for cash collection, to a mobile wallet or as an airtime top up. These services aren’t supported by Revolut - but WorldRemit can get your money moving with a great range of payout options, often pretty much instantly.

Use this guide to compare the options available to you, and don’t forget to also look at the Wise Account and card which may offer a bigger range of currencies for holding and exchange, plus fast payments to bank accounts in 80+ countries.

Get a Wise Account today

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Sources:

1. Revolut US
2. WorldRemit
3. Revolut pricing
4. Revolut fee agreement
5. Revolut contact
6. Revolut supported countries
7. WorldRemit guide to USD payments
8. WorldRemit contact
9. WorldRemit Terms And Conditions
10. Please see Terms of Use for your region or visit Wise Fees & Pricing: Only Pay for What You Use for the most up-to-date pricing and fee information

All sources checked on 22 December 2022